All three major US stock indexes were down in late-morning trading Tuesday, as Treasury yields continued to rise and investors increasingly expected the Federal Reserve to raise its benchmark interest rate at the conclusion of its two-day meeting on Wednesday.
In company news, Waystar (WAY) is considering multiple options, including a potential sale, Reuters reported Tuesday, citing seven sources familiar with the matter. The healthcare software company has hired Evercore (EVR) to advise on the process, the report said. Waystar shares were up 8.1% around midday. Evercore shares were down 2.1%.
Silver Lake- and Intel-backed (INTC) Altera said Tuesday its parent company has confidentially submitted a draft registration statement with the Securities and Exchange Commission relating to the proposed public offering of its common stock. Intel shares were up 1.1%.
Vera Therapeutics' (VERA) kidney disease treatment Trutakna achieved all prespecified endpoints during a final review of its Origin 3 study, with full US Food and Drug Administration approval expected in 2027, the drugmaker said Tuesday. Vera shares were down 1.9%.
Micron Technology (MU) is facing strike threats from a Taiwanese union representing company workers that is seeking a long-term transparent and verifiable profit-sharing mechanism instead of one-off rewards, Reuters reported Tuesday, citing the chairman of the union. Micron shares were up 0.7%.
General Motors (GM) said Tuesday it is launching a new user interface for pickup trucks featuring the latest versions of Apple (AAPL) CarPlay and Android Auto, with plans to deliver additional features and system enhancements through wireless software updates. The features will be available first in light-duty pickup trucks like the 2027 Chevrolet Silverado and 2027 GMC Sierra before expanding across its broader portfolio, the company said. General Motors shares were down 2.1%.
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